If you want to know if your area is recovering from the real estate crash, you need to watch out for these 8 signs.
* Watch out for frequent purchases made by investors and first-time homebuyers. Watch out for an increase in sales of newly built homes versus discounted foreclosed properties. Improved flow credit also show a recovering housing market.
* Find existing home sales. Statistics on sales and prices of existing single-family homes provides general information regarding the real estate market.
* The Housing Market Index by The National Association of Home Builders rates the present single-family sales and single-family sales in the next six months. Check out this rating to help you obtain a sense of demand for new houses.
* Check out the number of permits given out for new housing units each month through the New Residential Construction Index provided by the U.S. Census Bureau.
* Get information regarding New Residential Sales Index. This index shows that a sales agreement was signed in the area.
* Purchase Application Index. This index lets you know how confident people are about their financial standing and ability to buy a home. This has a ripple effect because an increase in applications at mortgage lenders helps promote more construction jobs and brings revenues to homebuilders, lenders and home-furnishing companies.
* U.S. Foreclosure Index. This will examine the number of formal notices like defaults, foreclosure auctions, and Real Estate Owned Statistics.